Host Joe Clark, CFP and Co-host Angi Kinser, Grant Soliven, Adam Harter
In this week’s episode, we will cover:
- The ways to teach your children healthy money habits
- How to know if we are really in a recession or not
- Understanding how to harvest losses
- How annuities actually work
Financial Tidbits
- “Habits make up about forty percent of our lives.” -Joe
- “We trade our energy and time for a paycheck.” -Joe
- “Anytime you have debt, you are borrowing from the future.” -Joe
- “If a CFA can’t tell you what you own, then you have no business in buying it.” -Joe
In This Episode:
- Successful Habits To Teach Your Children
- [ 6:05 ] The four jars to teach your children about money
- [ 20:40 ] Teaching your children about the Roth IRA
- A Lesson About Recessions
- [ 1:40 ] How do we know if we are in a recession?
- [ 4:10 ] How can you prepare for a recession?
- [ 6:25 ] Household debt during a recession
- Understanding How To Harvest Losses
- [ 2:55 ] How it works
- [ 7:10 ] How the CARES Act affects capital losses
- How Annuities Actually Work
- [ 1:45 ] The hidden fees in an annuity
- [ 4:45 ] What if you already have an annuity
- [ 7:25] Choosing your asset model
Links Mentioned:
- Free To Focus: https://freetofocus.com
- NBER: https://www.nber.org
